CORTLAND ADVISERS LLC

Cortland Advisers LLC is an investment advisory firm operating as a hedge fund sponsor based out of Wilmington, Delaware. The company is not to be confused with another similarly named asset management firm called Cortland Advisors LLC that was established in 2014 and is based out of Winter Park, Florida. Cortland Advisers LLC is a bullish fund headed by fund manager Matthew Lawrence that invests in a variety of public equity markets on a global scale. The company invests most heavily in the finance sector, which alone makes up over a third of its total asset allocations, and also invests in the energy, making up another quarter of its total allocations, utilities and telecommunications, health care, and consumer discretionary sectors, among others to a lesser degree, in order of decreasing allocation. Cortland Advisers LLC’s top holdings include Kinder Morgan Inc., The Bank of New York Mellon Corp., Enterprise Products Partners LP, Wells Fargo & Co., Berkshire Hathaway, CME Group Inc., Schlumberger Ltd., Chevron Corp., State Street Corp., and American International Group (AIG) Inc. Other than the firm’s top holding in Kinder Morgan Inc. that makes up approximately 6.5% of its total allocations, none of its holdings exceed 5% of its total holdings with its top 10 holdings making up just under half of its total holdings. Cortland Advisers LLC had a relatively high turnover rate in its most recent quarter of 47.4% and the company’s market value over time has been increasing in recent years. Cortland Advisers LLC had a market value of $4.4 billion back in 2013, and the firm stayed around that value for several quarters before increasing significantly to its currently market value of $6.2 billion. The company previously invested more heavily in the financial sector, which alone made up over half of its total asset allocations, and invested in the energy, utilities and services sectors.